Bailey sold kitchen cabinets to a customer for $10,000 on credit. The journal entry is
Bailey sold kitchen cabinets to a customer for $10,000 on credit. The journal entry is
Homework Answers
| No. | Account titles and explanation | Debit | Credit |
| 1. | Accounts receivable | $10000 | |
| Sales revenue | $10000 | ||
| (To record sales on credit) |
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Bailey sold kitchen cabinets to a customer for $10,000 on
credit. The journal entry is
Damon Company sold merchandise to a customer on credit for $10,000 with credit terms of 1/10,...
Damon Company sold merchandise to a customer on credit for $10,000 with credit terms of 1/10, n/30. The invoice was dated April 14. Which one of the following statements is true? a. The customer can take a $1,000 discount if the invoice is paid by May 13 b. The customer should pay $9,500 if the invoice is paid by April 24 c. The customer must pay $10,000 if paid after April 24 d. The customer must pay a $100 penalty if...
Please show journal entry transactions | 22 Cupcakes were sold for $10,000 today at the storefront...
Please show journal entry transactions
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A customer purchased an item on credit. Which journal entry should be made to record this purchase?
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Mullis Company sold merchandise on account to a customer for $625, terms n/30. The journal entry...
Mullis Company sold merchandise on account to a customer for $625, terms n/30. The journal entry to record this sale transaction would be: Multiple Choice Debit Cash of $625 and credit Sales $625. O Debit Cash of $625 and credit Accounts Receivable $625. Debit Accounts Receivable $625 and credit Sales $625. Debit Accounts Receivable $625 and credit Cash $625. C) Debit Soles $625 and credit Accounts Receivable $625.
The Modern Company builds kitchen cabinets. On January 1, 2019, one job (D42) was in progress....
The Modern Company builds kitchen cabinets. On January 1, 2019, one job (D42) was in progress. The order is from Dallas Apartment Corporation and was begun on December 21, 2018. Costs accumulated to date on that job are materials, $1,874; labor, $1,200; and overhead, $480. During January, the following costs were incurred in production work on Job D42 and on Jobs J01 and J02, which were started on January 5, 2019: Materials Labor Overhead Quantity Job D42 $ 540 $...
Problem 3-25 Georgia Cabinets manufactures kitchen cabinets that are sold to local dealers throughout the Southeast....
Problem 3-25 Georgia Cabinets manufactures kitchen cabinets that are sold to local dealers throughout the Southeast. Because of a large backlog of orders for oak and cherry cabinets, the company decided to contract with three smaller cabinetmakers to do the final finishing operation. For the three cabinetmakers, the number of hours required to complete all the oak cabinets, the number of hours required to complete all the cherry cabinets, the number of hours available for the final finishing operation, and...
• Prepare the journal entry to adjust the be e journal entry to adjust the beginning...
• Prepare the journal entry to adjust the be e journal entry to adjust the beginning allowance for uncollectible accounts? 10-On June 13 of the current year, KT Factory sold merchandise to a customer for $10,000 w credit terms 2/10, n/30. The customer paid the full amount due on June 20. KT uses the grows method of accounting for cash discounts. • Prepare the appropriate journal entries for June 13 and June 20. 11-At the end of its first year...
Journal entry worksheet 1 check for $7,500 from a customer for On March 1, a designer...
Journal entry worksheet 1 check for $7,500 from a customer for On March 1, a designer received services to be provided after the customer chooses a color scheme for the first floor of her house. On July 31, the designer completed the design work for this customer Note: Enter debits before credits. Date General Journal Debit Credit July 31 Record entry Clear entry View general journal
Ned used a journal entry in which a customer currently owed $9,200 to illustrate the damaging...
Ned used a journal entry in which a customer currently owed
$9,200 to illustrate the damaging effects of uncollectible
accounts.
In Ned's journal entry, he debited $9,200 for __________
and entered a credit of $9,200 for __________.
Question 1 O Mark this question Ned used a journal entry in which a customer currently owed $9,200 to illustrate the damaging effects of uncollectible accounts. In Ned's journal entry, he debited $9,200 for and entered a credit of $9,200 for bad debt...
The journal entry that records the collection of cash from a customer for payment on account...
The journal entry that records the collection of cash from a customer for payment on account for a sale that was recorded previously includes a debit to: Multiple Choice Accounts Receivable and credit to Cash. Cash and credit to Accounts Payable. Cash and credit to Accounts Receivable Accounts Payable and credit to Cash.
Please show journal entry transactions
| 22 Cupcakes were sold for $10,000 today at the storefront based on the expanded production capacity. Cupcakes cost $5,000 to 3/6/20 produce. Half of sales are paid in cash and half are on credit with a 3% service fee.
Mullis Company sold merchandise on account to a customer for $625, terms n/30. The journal entry to record this sale transaction would be: Multiple Choice Debit Cash of $625 and credit Sales $625. O Debit Cash of $625 and credit Accounts Receivable $625. Debit Accounts Receivable $625 and credit Sales $625. Debit Accounts Receivable $625 and credit Cash $625. C) Debit Soles $625 and credit Accounts Receivable $625.
Problem 3-25 Georgia Cabinets manufactures kitchen cabinets that are sold to local dealers throughout the Southeast. Because of a large backlog of orders for oak and cherry cabinets, the company decided to contract with three smaller cabinetmakers to do the final finishing operation. For the three cabinetmakers, the number of hours required to complete all the oak cabinets, the number of hours required to complete all the cherry cabinets, the number of hours available for the final finishing operation, and...
• Prepare the journal entry to adjust the be e journal entry to adjust the beginning allowance for uncollectible accounts? 10-On June 13 of the current year, KT Factory sold merchandise to a customer for $10,000 w credit terms 2/10, n/30. The customer paid the full amount due on June 20. KT uses the grows method of accounting for cash discounts. • Prepare the appropriate journal entries for June 13 and June 20. 11-At the end of its first year...
Journal entry worksheet 1 check for $7,500 from a customer for On March 1, a designer received services to be provided after the customer chooses a color scheme for the first floor of her house. On July 31, the designer completed the design work for this customer Note: Enter debits before credits. Date General Journal Debit Credit July 31 Record entry Clear entry View general journal
Ned used a journal entry in which a customer currently owed
$9,200 to illustrate the damaging effects of uncollectible
accounts.
In Ned's journal entry, he debited $9,200 for __________
and entered a credit of $9,200 for __________.
Question 1 O Mark this question Ned used a journal entry in which a customer currently owed $9,200 to illustrate the damaging effects of uncollectible accounts. In Ned's journal entry, he debited $9,200 for and entered a credit of $9,200 for bad debt...
The journal entry that records the collection of cash from a customer for payment on account for a sale that was recorded previously includes a debit to: Multiple Choice Accounts Receivable and credit to Cash. Cash and credit to Accounts Payable. Cash and credit to Accounts Receivable Accounts Payable and credit to Cash.
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